Pilgrim’s Pride (NASDAQ:PPC) Posts Earnings Results, Beats Estimates By $0.36 EPS

Pilgrim’s Pride (NASDAQ:PPC) posted its quarterly earnings results on Wednesday. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36, Briefing.com reports. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS.

Pilgrim’s Pride Stock Up 3.0 %

PPC stock traded up $1.41 during trading hours on Thursday, reaching $49.10. 1,143,006 shares of the stock were exchanged, compared to its average volume of 895,315. The firm’s 50-day moving average is $44.78 and its 200-day moving average is $40.50. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 0.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.82 and a quick ratio of 1.09. Pilgrim’s Pride has a 12 month low of $25.11 and a 12 month high of $50.13.

Wall Street Analyst Weigh In

PPC has been the topic of a number of analyst reports. Stephens initiated coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Thursday, August 15th. Barclays upped their price objective on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Argus upped their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $46.00 price objective on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and an average target price of $45.33.

Insiders Place Their Bets

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the transaction, the chief financial officer now owns 51,750 shares of the company’s stock, valued at approximately $2,241,292.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 82.63% of the company’s stock.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.